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Weis Markets caps off strong fiscal 2022 first half

Second-quarter net and comparable sales rise more than 8%

Russell Redman

August 2, 2022

2 Min Read
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Weis Markets said net sales climbed 9% to $2.24 billion in the first half of the year.Weis Markets

Weis Markets continued to drive sales growth in the fiscal 2022 second quarter after cycling pandemic-related results a year ago.

For the quarter ended June 25, net sales climbed 8.4% to $1.14 billion from $1.05 billion a year earlier, Sunbury, Pa.-based Weis Markets reported after yesterday’s market close. The gain marked a rebound from a 4.7% decrease in the prior-year period, when the grocer faced a difficult comparison against booming growth driven by COVID-19.

Comparable-store sales in the 2022 second quarter also rose 8.4% year over year, versus a 5.8% decline in the 2021 quarter, and were up 2.6% on a two-year stack following a 24.1% jump for the same period in 2020, Weis noted. Excluding fuel, Q2 2022 same-store sales gained 6% from a year ago but were down 1.7% over two years.

“We generated strong results in the second quarter, despite ongoing inflationary pressures throughout our business operations, due to the hard work and commitment of our associates,” Chairman, President and CEO Jonathan Weis said in a statement.

In the 26-week first half of 2022, net sales totaled $2.24 billion, up 9% from $2.05 billion a year earlier. Comp-store sales advanced 8.9% year over year (6.8% excluding fuel) and grew 6.5% on a two-year stacked basis (3.2% excluding fuel) following an 18.5% surge for the 2020 half.

Related:Weis Markets reins in frozen food pricing

“We are also mindful of inflation’s impact on our customers and continue to promote the value of our private brands, along with the fuel and retail product savings available through our Weis Rewards program,” Weis added. “In May, we made a multimillion-dollar investment to expand our ‘Low, Low Price’ program by lowering prices on hundreds of our best-selling brand-name and Weis quality frozen products.”

On the earnings side, Weis Markets reported 2022 second-quarter net income of $36.3 million, or $1.35 per share, compared with $33.5 million, or $1.24 per share, in the 2021 quarter.

First-half net earnings came in at $67.7 million, or $2.52 per share, versus $57.7 million, or $2.15 per share, in the 2021 half.

In May, Weis announced an 11% increase in its capital expenditures budget to $150 million for 2022. Plans call for the regional grocer to continue investments in new stores, remodels, fuel centers, IT upgrades and smaller store-improvement projects. Most recently, the chain completed remodels of stores in Scott Township, Hawley, Mifflinburg and Gettysburg, Pa., and added a Gas N’ Go fuel center at its store in Muncy, Pa. Also, in late May, Weis reopened a restored and upgraded 65,000-square-foot supermarket in West Hazleton, Pa., that was damaged in a fire in December 2021.

Related:Weis Markets raises capital expenditures for 2022

Overall, Weis Markets operates 197 supermarkets in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia, the same number of locations as a year ago.

About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

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